Construction is set to begin soon on a new affordable senior living community in Wake Forest.
Greenville-based Taft Family Ventures plans to start work next month on Crenshaw Trace, a 68-unit apartment community situated on 4.2 acres at 987 Durham Road next to a Waffle House and a Fairfield Inn hotel.
Plans for Crenshaw Trace call for 36 one-bedroom apartments and 32 two-bedroom units available to families with at least one member who is 55 or older.
“We’re planning to start construction basically by the end of July,” says C.J. Tyree, Partner at Taft-Mills Group, a subsidiary of Taft Family Ventures. The company bought the property last October for a little over $1 million.
Tyree says typical rental rates will be in the low $800s for single-bedroom apartments and in the mid-$900s for two-bedroom units. Lower rates will be available for those in lower AMIs, he added.
Read more at Triangle Business Journal